Page 118 - ANC22-Presentations-Weds

The rapidly growing and increasingly adopted hydrogen economy has the

potential to underpin long term PGE demand

Current primary supply of Pt and Pd is ~16Moz Estimated Annual Pt and Pd Demand from Hydrogen (Moz)
p.a. Pd is in prolonged deficit while Pt in surplus

Electrolysers Light FCEVs Heavy FCEVs

8
Our view is that with conservative hydrogen
adoption, demand for Pt and Pd from hydrogen 7
could be as high as ~8Moz p.a.
(1)
6

A modest hydrogen adoption scenario includes 5
~10% share of light vehicle market, ~40% share
of heavy vehicle market, and 50-70GW of 4
electrolyser capacity by 2040
3

2
Projections do not include PGE usage from
hydrogen applications in shipping, aviation, 1
industrial or steel manufacturing
-
2022 2026 2030 2034 2038 2042 2046 2050
(1) Cautionary statement: The forward-looking statements have been estimated by Chalice using assumptions that have been informed by third party research. These statements are based on an assessment of economic and
operating conditions and on various assumptions regarding future events and actions that, as at the date of this presentation, are considered reasonable by Chalice. Refer to “Long Term PGE Demand Forecast” slide in
Appendix for additional information regarding the underlying assumptions and calculation methodology, and Slide 2 for a statement regarding the risks involved in forward-looking statements of this nature. Without limiting
these risks, such forward-looking statements are predictive in character, may be affected by incorrect assumptions or by known or unknown risks and uncertainties, and may differ materially in due course. Investors are 25
therefore cautioned against attributing undue certainty to forward-looking statements, including those outlined above.